In today’s real estate landscape, there’s more to property value than just location and aesthetics. The modern buyer and renter are discerning, prioritising sustainable living and energy efficiency in order to counterbalance the rising cost of living. For landlords and owner-occupiers, this presents a golden opportunity to significantly enhance property value.
According to the Domain Sustainability in Property Report:
Higher Energy Ratings, Higher Value in Apartments
In the competitive apartment market, energy ratings have emerged as a significant differentiator. These ratings evaluate the energy efficiency of an apartment, considering factors like insulation, window quality, and appliance efficiency.
- The 7-Star Advantage for Apartments: Apartments achieving a 7-star energy rating typically feature advanced insulation, double or triple-glazed windows, and energy-efficient appliances tailored for compact living spaces. These features not only ensure a comfortable living environment but also promise reduced energy bills—a major selling point for potential renters or buyers.
- The Apartment Value Proposition: The fact that 7-star rated apartments can command up to a 12% increase in property value over their 5-star counterparts underscores the premium that buyers and renters place on energy efficiency in urban living spaces.
Apartment Renters are Willing to Pay More for Green Features
Apartment renters, often more exposed to discussions around sustainability and climate change, yet often face limitations in available solutions, show a pronounced preference for green living solutions.
- Solar Panels in Apartment Complexes: 77% of renters express a willingness to pay more for apartments in complexes equipped with solar panels. Shared solar solutions, especially in multi-dwelling units, offer the promise of reduced communal electricity costs and a greener living environment.
- Energy Storage Solutions in Apartment Settings: With 78% of renters valuing energy storage solutions, it’s evident that there’s a demand for apartments that can harness and store green energy. In apartment settings, communal energy storage solutions can provide backup power, reduce grid reliance during peak times, and optimise the use of generated solar energy.
Apartment Buyers Prioritise Energy Efficiency
For those looking to buy apartments, energy efficiency is top of mind. This trend reflects a broader shift in buyer priorities, emphasising long-term savings and sustainable living.
- Solar Panels in Apartment Buildings: For 85% of apartment buyers, the presence of solar panels on the building is a crucial factor in their decision-making process. They recognise the long-term benefits, both in terms of reduced energy costs and a smaller carbon footprint.
- Energy Storage Solutions for Apartment Dwellers: The fact that 79% of apartment buyers value energy storage solutions highlights the importance of uninterrupted green energy access in urban environments. These buyers are looking for apartments that are future-proofed against rising energy costs and grid uncertainties.
Allume’s Solution: A Game-Changer for Apartments
While the benefits of energy efficiency are evident, apartment owners often face challenges in accessing renewable energy solutions. Enter Allume Energy and their groundbreaking SolShare technology. Designed specifically for multi-dwelling buildings, SolShare offers a unique solution to harness solar energy efficiently.
Key Features of SolShare: A Deeper Dive
1. Maximised Savings with Intelligent Solar Distribution
SolShare’s unique algorithm is designed to optimise the distribution of solar energy within multi-dwelling units, such as apartment complexes. Here’s how it adds value:
- Smart Distribution: Instead of equally dividing the solar energy among all units at any given moment, SolShare’s dynamic sharing algorithm allocates solar in order to maximise solar energy consumption (and therefore electricity bills!) . Over the course of a month, SolShare ensures everyone receives their fair share.
- Reduced Grid Reliance: By efficiently harnessing and distributing solar energy, apartments can significantly reduce their dependence on grid electricity, especially during peak times. This leads to substantial savings on electricity bills.
2. Flexibility to Suit Every Resident’s Needs
Specialized Solar and Electrical, have joined forces with Allume to introduce the SolShare Solution to apartment residents, coupled with exclusive finance options that we provide. We recognise that every resident’s energy needs and financial situations are different. To cater to this diversity, the solution offers:
- Low (and even no) interest loans are becoming more readily available, for both individuals and strata.
- Some stratas have substantial sinking funds that can be allocated to a SolShare solar system.
- Paying for the system outright. Costs vary but typically apartment residents pay less than standalone houses would, which is offset by substantial savings on your energy bills!
Enquire with our team to find out which options will best suit your and your neighbours.
3. Freedom of Choice:
Retaining your preferred electricity retailer is one of the standout features of SolShare is its “behind-the-meter” approach. What does this mean for residents?
- No Retailer Lock-ins: With many energy solutions, residents might be restricted to using a specific electricity retailer. SolShare’s design ensures that this isn’t the case. Residents can continue with their preferred electricity retailer, ensuring continuity and avoiding the hassle of switching providers.
- Seamless Integration: SolShare integrates seamlessly with existing electricity meters. This means residents can enjoy the benefits of solar energy without any significant changes to their current electricity setup – all you’ll notice is reduced energy bills!
The Allume Advantage for Property Owners
For landlords, property developers and apartment owners, integrating Allume’s solution can be a game-changer. Not only does it increase the attractiveness of apartments in a competitive rental market, but it also offers a unique marketing opportunity, enhancing the overall value of the property.
The future of real estate is green. By embracing energy efficiency and innovative solutions like Allume’s SolShare, property owners can position themselves at the forefront of this shift, ensuring higher returns and a sustainable future. Contact us today to find our more.